Much to our surprise we have been advised by our mortgage adviser that my Westcombe Park solicitor is not on the lender Solicitor panel. How can I check?
You need to call your Westcombe Park lawyer directly. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Will our lawyer be asking questions regarding flooding during the conveyancing in Westcombe Park.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Westcombe Park. There are those who purchase a house in Westcombe Park, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that may be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Westcombe Park. The conventional set of information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to determine if the property has historically flooded. In the event that flooding has previously occurred which is not disclosed by the seller, then a purchaser may issue a legal claim for losses as a result of such an incorrect reply. A purchaser’s lawyers should also order an enviro report. This should indicate if there is a recorded flood risk. If so, more detailed investigations will need to be conducted.
How does conveyancing in Westcombe Park differ for newly converted properties?
Most buyers of new build property in Westcombe Park come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Westcombe Park usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Westcombe Park or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Westcombe Park I like with amenity areas and station in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Westcombe Park in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I'm remortgaging my existing property to a BTL loan with Barclays Direct and intend to use the remaining equity as a deposit on further house. The location we are looking at is Westcombe Park. Will your lawyers be able to act for both sets of banks and link together the conveyances?
Make use of our comparison tool on this page to ensure that the solicitors are approved by both mortgage companies. On the basis that they are your solicitor should be able to tie up the two deals but you should talk with you solicitor and communicate your expectations and requirements.
Having had my offer accepted I require leasehold conveyancing in Westcombe Park. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Westcombe Park - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Westcombe Park conveyancing firm to represent me?
if there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to arrive at the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Westcombe Park property is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The unexpired lease term was 72 years.